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Lagos Island represents the heartbeat of modern living in Nigeria — a vibrant mix of business, luxury, and culture. From the serene streets of Ikoyi to the bustling lifestyle of Lekki, this part of Lagos offers something for everyone.
But with so many options available, which neighbourhood on Lagos Island is truly the best to live in?
Whether you’re a young professional, entrepreneur, or growing family, this guide explores the top neighbourhoods to live in on Lagos Island in 2025, their unique features, and what lifestyle each one offers.
1. Ikoyi — The Epitome of Luxury and Prestige
Ikoyi is often regarded as the most exclusive neighbourhood in Lagos. It’s home to embassies, corporate executives, and high-net-worth individuals.
What makes Ikoyi special
- Prime Location: Strategically situated between Victoria Island and Lagos Mainland.
- Security: 24-hour surveillance, gated estates, and private guards.
- Lifestyle: Golf clubs, fine dining, and waterfront mansions.
- Property Type: Luxury apartments, duplexes, and penthouses.
Average Rent (2025): ₦10–20 million/year (3-bedroom apartment)
Best for: Professionals, diplomats, and investors looking for high-value real estate.
2. Victoria Island (VI) — The Corporate & Lifestyle Hub
Victoria Island, often referred to as “VI,” combines luxury living with commercial convenience. It’s where business meets leisure — making it ideal for people who want to live close to work and entertainment.
Highlights
- Business Access: Headquarters of top Nigerian companies and banks.
- Amenities: Upscale restaurants, beaches, and shopping malls.
- Transport: Central road networks and easy access to Lekki and Ikoyi.
Average Rent (2025): ₦8–15 million/year (2–3 bedroom apartment)
Best for: Business executives, expatriates, and entrepreneurs seeking a balance between work and lifestyle.
3. Lekki Phase 1 — Modern Comfort and Community Living
Lekki Phase 1 has become one of the most sought-after residential locations in Lagos Island. Its clean environment, beautiful estates, and social lifestyle make it a top choice for young professionals and families.
Why Lekki stands out
- Modern Housing: Duplexes, serviced apartments, and gated estates.
- Social Vibe: Restaurants, cafés, coworking spaces, and gyms.
- Accessibility: Easy access to VI, Ikoyi, and the Lekki-Epe axis.
Average Rent (2025): ₦5–10 million/year (3-bedroom duplex)
Best for: Young professionals, families, and mid-income earners who value comfort and connection.
4. Oniru — The Hidden Gem Between VI and Lekki
Oniru Estate offers the perfect mix of Victoria Island’s convenience and Lekki’s lifestyle. Over the past few years, Oniru has grown into a vibrant, secure, and trendy community with great access roads and modern buildings.
Key Features
- Proximity: Walking distance to VI and Landmark Beach.
- Security: Gated community with organized estate management.
- Lifestyle: Quiet yet close to major nightlife and shopping centers.
Average Rent (2025): ₦6–9 million/year (2-bedroom apartment)
Best for: Young couples, professionals, and small families seeking central living without VI’s high rent.
5. Banana Island — Nigeria’s Most Exclusive Neighbourhood
When it comes to ultra-luxury living, Banana Island tops the list. Often compared to Dubai’s Palm Jumeirah, it’s home to Nigeria’s wealthiest families, top CEOs, and celebrities.
Why Banana Island is elite
- Architecture: World-class buildings and waterfront properties.
- Infrastructure: Underground power lines, paved roads, and 24-hour power.
- Community: Privacy, security, and exclusivity.
Average Rent (2025): ₦25–40 million/year (luxury apartment or duplex)
Best for: High-net-worth individuals and investors looking for prestige and privacy.
6. Chevron Drive & Ikate — Affordable Alternatives
For those seeking affordable luxury, Chevron Drive and Ikate (Elegushi) provide a great balance between comfort and cost.
Highlights
- Affordable Estates: Modern designs with community management.
- Good Road Network: Direct link to Lekki-Epe Expressway.
- Developing Area: Ideal for long-term investment.
Average Rent (2025): ₦3–6 million/year (2–3 bedroom flats)
Best for: Young families, tech professionals, and first-time home buyers.
Summary Table: Best Neighbourhoods to Live in Lagos Island
| Neighbourhood | Key Feature | Ideal For | Avg Rent (₦) |
|---|---|---|---|
| Ikoyi | Luxury & prestige | Diplomats, CEOs | 10M–20M |
| Victoria Island (VI) | Corporate & lifestyle | Executives, expats | 8M–15M |
| Lekki Phase 1 | Modern comfort | Families, young pros | 5M–10M |
| Oniru | Balance & access | Couples, mid-income | 6M–9M |
| Banana Island | Ultra-luxury | HNIs, investors | 25M–40M |
| Chevron/Ikate | Affordable & developing | Startups, tech pros | 3M–6M |
Final Thoughts
Lagos Island offers something for every lifestyle and income level — from the serene luxury of Ikoyi and Banana Island to the dynamic community energy of Lekki Phase 1 and Oniru.
When choosing the right neighbourhood, consider your budget, commute, and lifestyle needs. The best choice is one that blends comfort, accessibility, and long-term value.
Looking to buy, rent, or invest in any of these Lagos Island neighbourhoods?
👉 Contact us today or browse our available property listings to find your ideal home.
We have verified properties in Lekki, Ikoyi, Victoria Island, and Oniru — whether you want a modern apartment, luxury duplex, or waterfront villa, our team will guide you every step of the way.
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